3.2.2 India It’s particularly ubiquitous among millennials and Gen Z. Instead of selling a product, focus on the lifestyle feature of our brand. For this, we will need to learn as much as we can about our target audience. And we would not be afraid to shout about how we are making the world a better place. 68% of British consumers consider a brand’s ethical behaviour before buying. That includes how we treat employees, supply chain logistics, environmental policy, and animal welfare. Although being ethical offers some flexibility with price point, half of UK consumers are willing to pay more for ethical brands. For 78% of UK consumers, cost remains the most important purchasing factor. Don’t use humanity to justify pricing products too high. 3.2.3 Japan Moreover, we have to emphasize on build branding loyalty with Japan customers. Two in five consumers in Japan who made purchases in either category said they were loyal to the brand they most often bought from. So think beyond short-term sales goals 20
and cultivate connections with Japanese consumers. It’ll pay off in the long term and buying the product in long term. However, forming one-to-one relationships with Japanese customers through personalized services, social media advertising, or unique in-store experiences can be a good strategy. Loyalty programs are also widespread. 73% of 18-24-year-olds in Japanese think they’re a good way for brands to compensative customers. It’s not all about discounts, though cashback, gift cards, and physical rewards are all more common types of rewards. And keep in mind that for Japanese loyalty programs are substitute for a great customer experience . This drive for customer experience in the Japanese knocks into the emerging trend of buying experiences over stuff and also a key towards success in Japan market. 3.3 An analysis of competition in each market. 3.3.1 United States Secret Recipe have a good reputation at Malaysia market however every market still have their competitors such as Baskin Robins and Olive Garden which produce luxury and high quality cakes in the industry. Therefore, there will also have competitor which is Bourke Street Bakery located at United States, New York which have also famous in bakery. Bourke Street Bakery, a well-known Australian bakery & cafe in Sydney, tasked GRT Architects to design its first location in America. The owner of Bourke Street Bakery, Paul Allam and David McGuinness, used to be chefs before turning bakers started the business in 2004. Hence their artisanal skills and the the dedication for foods are found on everywhere to edge and everything at Bourke Street Bakery is handmade and they use only the best possible ingredients. This is our challenging problem which most of the people would prefer handmade cakes rather than made by machines. No doubt, their pastries and cakes are very high quality and on the top level ingredients including flour, nuts, cream, eggs and even oil and skills to provide the best cake to
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- Spring '16
- japan, World population, Cake